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CI Investments Inc. Trims Stock Position in Citigroup Inc. (NYSE:C)

CI Investments Inc. cut its holdings in shares of Citigroup Inc. (NYSE:CGet Rating) by 99.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,409 shares of the company’s stock after selling 2,976,705 shares during the quarter. CI Investments Inc.’s holdings in Citigroup were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in C. Qube Research & Technologies Ltd raised its holdings in shares of Citigroup by 119.6% in the 4th quarter. Qube Research & Technologies Ltd now owns 730,024 shares of the company’s stock worth $44,086,000 after purchasing an additional 397,541 shares during the period. Bell & Brown Wealth Advisors LLC grew its stake in shares of Citigroup by 17.9% in the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 31,464 shares of the company’s stock valued at $2,129,000 after buying an additional 4,767 shares in the last quarter. Analyst IMS Investment Management Services Ltd. grew its stake in shares of Citigroup by 1.4% in the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 31,971 shares of the company’s stock valued at $1,932,000 after buying an additional 449 shares in the last quarter. B. Riley Wealth Management Inc. grew its stake in shares of Citigroup by 9.3% in the fourth quarter. B. Riley Wealth Management Inc. now owns 18,469 shares of the company’s stock valued at $1,115,000 after buying an additional 1,579 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Citigroup by 16.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,057,280 shares of the company’s stock valued at $63,881,000 after buying an additional 146,965 shares in the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.2 %

Shares of NYSE C opened at $48.84 on Monday. The company has a market cap of $94.59 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.60. Citigroup Inc. has a 12-month low of $43.44 and a 12-month high of $73.72. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.43. The stock’s 50 day simple moving average is $50.13 and its 200 day simple moving average is $52.29.

Citigroup (NYSE:CGet Rating) last announced its quarterly earnings results on Friday, July 15th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.63. The business had revenue of $19.64 billion for the quarter, compared to the consensus estimate of $18.32 billion. Citigroup had a return on equity of 10.25% and a net margin of 20.06%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $2.84 EPS. Equities research analysts expect that Citigroup Inc. will post 7.39 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 1st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Friday, July 29th. Citigroup’s payout ratio is currently 26.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays lowered their target price on Citigroup from $67.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Cfra restated a “buy” rating and set a $62.00 price objective on shares of Citigroup in a research note on Friday, July 15th. Piper Sandler lowered their price objective on Citigroup from $70.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Royal Bank of Canada lowered their price objective on Citigroup from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, June 27th. Finally, Wells Fargo & Company lowered their price objective on Citigroup from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has a consensus rating of “Hold” and a consensus target price of $62.95.

Citigroup Profile

(Get Rating)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading

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